TyB
HOMER42 Rivet Joint trackin’ EN/SW from Souda Bay, Crete
IAF252 tanker up for aerial refueling
Fed Admits Banks Suffered Massive Deposit Outflows Last Week
With usage of The Fed's emergency funding facility rising once again to a new record high last week - and banks stocks clubbed like a baby seal - all eyes are once again on just what The Fed can do to 'seasonally-adjust' the data to avoid the admission of any deposit run fears in domestic banks.
Total bank deposits - on a seasonally-adjusted basis - crashed by a massive $83.7BN last week(the biggest outflows since SVB)to the lowest since June…Non-seasonally-adjusted, the deposit outflows were even yuuger -$129BN… Is reality starting to set in for the decoupling between massive money market fund inflows and a relatively flat deposit base for the last few months… Adjusting for foreign bank deposit flows, domestic bank deposit outflows were still massive, -$72BN SA, -$117BN NSA.
Total deposit delta since the SVB crisis are $280BN SA and $262BN NSA… On the other side of the ledger, Large banks saw loan volumes shrink by $3.4BN while Small banks “allegedly” (moar fun with numbers!!) saw loan volumes rise by $3.3BN. The key warning sign continues to trend lower (Small Banks' reserve constraint), supported above the critical level by The Fed's emergency funds (for now and dhats the $109b that has to start flowing back on March 11th 2024) As the green line shows, without The Fed's help, the crisis is back (and large bank cash needs a home - like picking up a small bank from the FDIC)… QT really is about to blow up another small bank…What's Jamie worried about?-(and he will sell those shares before March 11th guaranteedhe just needs some ‘space’ between the announcement- odds he does it on the 110th anniversary of the Federal Reserves creation?…..wouldn’t surprise me at all….reported on at end of that week since Dec 23-24 is a weekend.)
https://www.zerohedge.com/markets/fed-admits-banks-suffered-massive-deposit-outflow-last-week
-10% and the talking heads can now say well we’ve had a correction
All still very orderly and no signs of panic at all
When every trade is managed to the millisecond there will be no organic crash-bots will make sure of that.
Complete nonsense it remains as high as it does still with all the “indicators” in worse shape than height of 2008-all except home prices/rent and REIT values.
Until geriatric patient Yellen gets replaced I’m not looking for anything other then a slow grind.
Can you imagine her in Hank Paulson role from 2008?
He was barely convincing to even non financial people but they had no choice. Trot her out?
Kek!
>>19813133, >>19813074, >>19813176, >19813144 Fed Admits Banks Suffered Massive Deposit Outflows Last Week plus mktfag comments
Nice and neat
TyB